Sharp Spike in Maryland Student Loan Debt
As college expenses rise, so does the amount of debt facing graduates in Maryland.
COLLEGE PARK - College students in Maryland left school last year with more debt than ever before, according to a new report released Thursday. The average college graduate in Maryland had $21,750 in student loan debt in 2010, according to the report by the Institute for College Access & Success' Project on Student Debt, a nine percent increase from the year before. The increase in student debt comes as salaries for new graduates have stagnated, making it difficult for them to pay back loans, said Mark Kantrowitz, the publisher of FinAid and FastWeb, which tracks the student loan industry. "Students are being asked to pay back more debt on the same salaries," he said. Though student loan debt in Maryland increased sharply, graduates in the…
JH
10:51 am on Saturday, November 5, 2011
The colleges and universities need to do more to educate students on what jobs will be available for students when the graduate and how much they can expected to be paid. I know many students that only start to think of a career in their last year of college and soon recognize that the degree field they selected will not pay well or that any job will be very hard to find with the kind of degree … more ›